To date, most of the things we use in everyday life, for example, telephone, computer, car, home appliances and even food, consist of components that require assembly. Moreover, the components of the finished product can be on different continents, for example, the raw materials are on the same continent, the product is assembled on the other, and the final product is sold in the store already on the third continent. And, of course, there is a question of transportation. All these complex processes ultimately influence the pricing of the product. Hence, such unstable prices for the final product, the price for which can increase tens and hundreds of times compared with the cost price.
Unfortunately, trade in goods has not undergone major changes in recent decades. Despite confidence in intermediaries, firms still use paper contracts that fall into the risk zone, becoming easy prey for scammers. The industry lacks transparency, efficiency and speed. But the biggest problem facing the industry is ensuring the quality of the product. What can I talk about, even if the product quality certificate can be forged today, and the buyer will never know where the fraud was committed. Therefore, mediators who are engaged in the control of trade operations are hired. However, these intermediaries receive their commission at a rate of 5% or more, which affects the price of the final product, too. The next serious problem is the dependence of the industry on paper documentation. All that is done manually can lead to data mismatch, errors and, as a result, to large delays in time. Fortunately, KRATOS can solve this problem.
Arkratos is a Singaporean company associated with the trading house Phodium Resources. Arkratos is part of a multibillion-dollar group of companies engaged in the extraction of raw materials and has enterprises in more than 15 countries in Asia, Europe and Africa. The Arkratos team developed the KRATOS commodity trading platform. KRATOS is an Ethereum-based platform that uses Blockchain technology and Smart contracts to solve today's trade problems. The main difference between KRATOS and other systems is that it provides better transparency, high efficiency and speed. The platform provides a guarantee that all important documents cannot be tampered with in any of the chains between the supplier and the buyer. Smart contracts will be processed automatically, eliminating the need for paper documents, which in turn will reduce the amount of errors, the possibility of fraud and reduce overall costs. Now the transaction will occur many times faster, reducing the risks for each of the parties to the transaction. This is a win-win option for each side. In addition, this system will help to do without intermediaries, which will also lead to a reduction in costs.
Welcome to KRATOS!
If you want to get more information about this promising platform, please follow the links below:
Telegram group: https://t.me/arkratos_group